Fed’s Daly Says She Doesn’t See a U.S. Recession on the Horizon

The U.S. economy doesn’t appear to be headed toward a recession, Federal Reserve Bank of San Francisco President Mary Daly said. “When I look at the data coming in, I see solid domestic momentum that points to a continued economic expansion,” Daly wrote Tuesday in a post on Quora.com, citing data on labor markets and consumer spending. FOMC @ 2AM WILL DECIDE

USD INDEX TECHNICAL CHARTS

Daily Chart – Key Points

  • Convergence and Divergence – price will decide after the FOMC
  • Current USD Price is over-valued and is not too good for US as Trump moves to keep the country running
  • China will take advantage of their low currency for trade.
  • We are expecting a Dovish statement from FED tomorrow @ 2am.

WEEKLY CHART

  • Candlestick Pattern suggesting a pullback
  • Ichi Moku showing consolidation as a leading indicator

Why traders care about FOMC: It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates; especially the interest rate direction.

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